Buying and Selling a Home For Canadians For Dummies by Douglas Gray & Peter Mitham

Author:Douglas Gray & Peter Mitham [Gray, Douglas & Mitham, Peter]
Language: eng
Format: epub
ISBN: 9781119716204
Publisher: Wiley
Published: 2020-11-10T00:00:00+00:00

Collapse (cancel) your offer, because the condition of a positive inspection wasn’t met. If you and the seller can’t reach an agreement, you can collapse the offer and look for another house.

Keep in mind that the seller is under no obligation to renegotiate. In fact, she may have priced the house acknowledging there was work to be done, and in her mind she has already discounted the price to cover the repairs.

Inspection costs can vary greatly if you’re buying a very large or unusual property. In most cases, however, you’ll find inspectors charge a fee in the range of $250 to $1,000. There’s no set price because some inspectors charge based on the complexity of the property, whereas others charge using a sliding scale based on the size of the property. A typical building inspection takes at least two or three hours. On completion, you’ll receive a full, written inspection report that’s signed and dated by the inspector.

In the event you’re buying a larger, custom-built house (lucky you!) or a multifamily property, you may want to have a more comprehensive inspection conducted to inspect and analyze complex systems within the house. In this case, you may want to pay extra for a comprehensive inspection that will produce a technical audit report. This type of inspection typically takes 20 hours or more to perform and includes the disassembly and disruption of the home’s systems and components. You’ll need to get the owner’s permission before conducting a technical audit, because the inspector will be dismantling key components of the owner’s home. If you’re interested in a technical audit, check to make sure your inspector is capable of performing this type of inspection and be sure to get a price estimate before proceeding.

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